Pacific Biosciences of California (PACB) Scheduled to Post Quarterly Earnings on Thursday

Pacific Biosciences of California (NASDAQ:PACB) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect Pacific Biosciences of California to post earnings of ($0.26) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The company had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $57.96 million. During the same period in the prior year, the business posted ($0.35) EPS. The business’s revenue was up 113.3% on a year-over-year basis. On average, analysts expect Pacific Biosciences of California to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.69 on Thursday. The business’s fifty day moving average price is $3.51 and its 200 day moving average price is $6.25. Pacific Biosciences of California has a 12-month low of $1.25 and a 12-month high of $14.55. The stock has a market capitalization of $452.84 million, a PE ratio of -1.40 and a beta of 1.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.21.

Insider Buying and Selling at Pacific Biosciences of California

In other news, Director David W. Meline bought 40,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at $176,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the transaction, the insider now owns 876,611 shares in the company, valued at approximately $5,224,601.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David W. Meline bought 40,000 shares of Pacific Biosciences of California stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $176,000. The disclosure for this purchase can be found here. Insiders have sold 37,359 shares of company stock worth $218,843 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

PACB has been the topic of several analyst reports. Scotiabank dropped their target price on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 18th. TD Cowen lowered their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Sanford C. Bernstein lowered their price target on Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, April 18th. JPMorgan Chase & Co. lowered Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a report on Monday, April 22nd. Finally, UBS Group lowered their price target on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.77.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.